ASICLAND, Huge Success in Demand Forecasting…
Confirmed Public Offering Price Exceeds Upper Band at 25,000 Won
▶Participation from 1,906 Domestic and Foreign Institutions, Including Sovereign Wealth Funds and Large Overseas Funds… Recorded a 490:1 Competition Ratio
▶Confirmed Public Offering Amount of 65.9 Billion Won, Expected Market Capitalization of 264.9 Billion Won Post-Listing
▶ Subscription on November 2-3, Listing on KOSDAQ on November 13
[2023-10-31] ASICLAND, the only TSMC VCA (Value Chain Alliance) in Korea, successfully completed its demand forecasting.
ASICLAND, a leading company in ASIC design solutions, announced on the 31st through a public disclosure that it has confirmed the final public offering price at 25,000 won, exceeding the upper band of the desired range (19,100 won to 21,400 won), based on the demand forecasting conducted from October 23 to 27 with domestic and foreign institutional investors.
A total of 1,906 institutional investors participated in the demand forecasting, with significant contributions from large overseas funds such as FMR (Fidelity Management & Research), ADIA (Abu Dhabi Investment Authority), Blackrock, and PAG, as well as sovereign wealth funds, which increased the competition ratio. As a result, the final competition ratio was 490:1, with a public offering amount of approximately 65.9 billion won and an expected market capitalization of 264.9 billion won post-listing.
A representative from Samsung Securities, the lead underwriter, stated, "Most of the participating institutions joined from the first day of the demand forecasting to secure their shares, providing mandatory holding commitments. Although the confirmed public offering price is 25,000 won, about 76% of the orders submitted on the last day of demand forecasting proposed prices exceeding 26,000 won, showing high interest and confidence in ASICLAND's growth potential." The representative added, "The strong global partnerships with TSMC and Arm, and the high AI revenue proportion of about 70%, seem to have been highly valued for their growth potential in the Fourth Industrial Revolution."
Notably, the high competition ratio compared to the public offering amount stands out. Among the items with a public offering amount exceeding 50 billion won since the introduction of the institutional investor's capital verification system, only Nexteel (80.5 billion won, 236:1) and Fadu (193.8 billion won, 363:1) had larger public offering amounts than ASICLAND (65.9 billion won, 490:1), making ASICLAND's competition ratio the highest in this IPO.
ASICLAND plans to use the funds raised from this IPO to:
▲ Fully enter the core global fabless market in the U.S.
▲ Recruit R&D and project personnel
▲ Invest in new business expansion through IP business investments
Lee Jong-min, CEO of ASICLAND, expressed his gratitude by saying, "We sincerely thank all the investors who positively evaluated our corporate value. We will use this listing as a stepping stone to successfully enter the U.S., the center of the global fabless industry, and become a leading global ASIC company."
Meanwhile, ASICLAND is scheduled to go through the subscription process on November 2-3 and list on the KOSDAQ market on November 13. The lead underwriter is Samsung Securities.
ASICLAND, Huge Success in Demand Forecasting…
Confirmed Public Offering Price Exceeds Upper Band at 25,000 Won
▶Participation from 1,906 Domestic and Foreign Institutions, Including Sovereign Wealth Funds and Large Overseas Funds… Recorded a 490:1 Competition Ratio
▶Confirmed Public Offering Amount of 65.9 Billion Won, Expected Market Capitalization of 264.9 Billion Won Post-Listing
▶ Subscription on November 2-3, Listing on KOSDAQ on November 13
[2023-10-31] ASICLAND, the only TSMC VCA (Value Chain Alliance) in Korea, successfully completed its demand forecasting.
ASICLAND, a leading company in ASIC design solutions, announced on the 31st through a public disclosure that it has confirmed the final public offering price at 25,000 won, exceeding the upper band of the desired range (19,100 won to 21,400 won), based on the demand forecasting conducted from October 23 to 27 with domestic and foreign institutional investors.
A total of 1,906 institutional investors participated in the demand forecasting, with significant contributions from large overseas funds such as FMR (Fidelity Management & Research), ADIA (Abu Dhabi Investment Authority), Blackrock, and PAG, as well as sovereign wealth funds, which increased the competition ratio. As a result, the final competition ratio was 490:1, with a public offering amount of approximately 65.9 billion won and an expected market capitalization of 264.9 billion won post-listing.
A representative from Samsung Securities, the lead underwriter, stated, "Most of the participating institutions joined from the first day of the demand forecasting to secure their shares, providing mandatory holding commitments. Although the confirmed public offering price is 25,000 won, about 76% of the orders submitted on the last day of demand forecasting proposed prices exceeding 26,000 won, showing high interest and confidence in ASICLAND's growth potential." The representative added, "The strong global partnerships with TSMC and Arm, and the high AI revenue proportion of about 70%, seem to have been highly valued for their growth potential in the Fourth Industrial Revolution."
Notably, the high competition ratio compared to the public offering amount stands out. Among the items with a public offering amount exceeding 50 billion won since the introduction of the institutional investor's capital verification system, only Nexteel (80.5 billion won, 236:1) and Fadu (193.8 billion won, 363:1) had larger public offering amounts than ASICLAND (65.9 billion won, 490:1), making ASICLAND's competition ratio the highest in this IPO.
ASICLAND plans to use the funds raised from this IPO to:
▲ Fully enter the core global fabless market in the U.S.
▲ Recruit R&D and project personnel
▲ Invest in new business expansion through IP business investments
Lee Jong-min, CEO of ASICLAND, expressed his gratitude by saying, "We sincerely thank all the investors who positively evaluated our corporate value. We will use this listing as a stepping stone to successfully enter the U.S., the center of the global fabless industry, and become a leading global ASIC company."
Meanwhile, ASICLAND is scheduled to go through the subscription process on November 2-3 and list on the KOSDAQ market on November 13. The lead underwriter is Samsung Securities.